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Popular This Week

Rio warns of Oyu Tolgoi blow-out amid slow quarter

By: Esmarie Iannucci     16th July 2019 Mining giant Rio Tinto has warned of costs blow-outs and delays to its Oyu Tolgoi underground project, in Mongolia. The miner on Tuesday said that capital spend to bring the copper project into production is expected to range between $6.5-billion and $7.2-billion, an increase of between... 

Rio warns of Oyu Tolgoi blow-out amid slow quarter

CEZ gives European Metals funding, may partner on lithium project

By: Reuters     16th July 2019 Czech utility CEZ will provide a two-million euro convertible loan to European Metals Holding (EMH), the companies said on Tuesday, giving CEZ a potential majority stake in the company developing a large lithium deposit in the country. The loan will mature on December 31, 2019 and carries a 7.5%... 

Kazakh tycoon sells Petropavlovsk stake to focus on battery minerals

By: Reuters     16th July 2019 Kazakh entrepreneur Kenes Rakishev said on Tuesday he had sold his stake in gold miner Petropavlovsk to Russian billionaire Roman Trotsenko and would invest the proceeds in a cobalt and nickel project he aims to list in Hong Kong. Rakishev bought his shares in late 2017 when he said... 

Pure Gold bolsters financing with AngloGold raising 

By: Creamer Media Reporter      16th July 2019 TSX-V-listed Pure Gold Mining has enlarged its capital raising to $45.5-million, following additional nonbrokered financing of about $13.04-million from South Africa-headquartered gold major AngloGold Ashanti and an institutional investor. The issue of 23.7-million units at $0.55 each to... 

Dundee to optimise Serbia project following PEA

By: Creamer Media Reporter      16th July 2019 TSX-listed Dundee Precious Metals has announced the results of a preliminary economic assessment (PEA) for its Timok gold project, in Serbia, providing a foundation upon which the project will now be optimised. The PEA, prepared by CSA Global Consultants, is based on Timok producing 132 000 oz/y... 

Alrosa signs JV agreement with Zimbabwean miner

By: Creamer Media Reporter      16th July 2019 Russian diamond miner Alrosa has entered into a joint venture (JV) agreement with Zimbabwe national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) to develop diamond deposits in the Southern African country. The agreement was signed by Alrosa deputy CEO Vladimir Marchenko and ZCDC... 

Avocet seeks last-chance opportunities before considering voluntary liquidation

By: Marleny Arnoldi     16th July 2019 Embattled Avocet Mining has temporarily withdrawn a resolution that was to be put to shareholders at an upcoming general meeting for the proposed voluntary liquidation of the company. Avocet on Tuesday said it would discuss possible outcomes for the company, including being broken up in an... 

Mahenge Liandu’s metallurgical testwork in line with expectations

By: Nadine James     16th July 2019 Aim-listed investment group Armadale Capital on Tuesday confirmed that commercialisation plans for the Mahenge Liandu graphite project, in Tanzania, continued to advance, with initial metallurgical testwork in line with expectations. Armadale noted that ore was crushed up to 1 mm then put through... 

Fuel cell electric vehicles set to make strong entry – visiting experts  

By: Martin Creamer     15th July 2019 There is simply no doubt that fuel cell electric vehicles (FCEVs), which use platinum group metal catalysts, will make a very strong global entry in the next decade, global experts said on Monday. Speaking to Mining Weekly Online on the eve of Nedbank’s FCEV conference in Cape Town, Professor Dr... 

Fuel cell electric vehicles set to make strong entry – visiting experts

Pan African condemns protest action affecting Barberton Mines 

By: Simone Liedtke     12th July 2019 Africa-focused Pan African Resources’ Barberton Mines has lost a number of production days as a result of protest action, which the miner says is unrelated to normal industrial action. In a statement issued on Friday, Pan African said it would take the appropriate action to protect its employees... 

Pan African condemns protest action affecting Barberton Mines
Protest action at Barberton sees mine property being destroyed, including the burning of mine vehicles and ore concentrate trucks

BHP is latest giant miner to plan exit from thermal coal

By: Bloomberg     11th July 2019 BHP Group is moving ahead with plans to exit thermal coal, according to people familiar with the matter, the latest move by the world’s biggest miners to retreat from the dirtiest fuel. BHP is looking at options to divest the business that includes assets in Australia and Colombia, said the... 

BHP is latest giant miner to plan exit from thermal coal

Fuel cells presenting mining, manufacturing with compelling opportunity – Isondo 

By: Martin Creamer     11th July 2019 If South Africans make use of their superior sunlight and their prime wind, they can generate a lot of carbon-free electricity at a cost potentially cheaper than when Eskom burns coal and pollutes the air. That, in itself, is in line with the world’s decarbonisation demands. But there is more.... 

Fuel cells presenting mining, manufacturing with compelling opportunity – Isondo
Photo by Creamer Media's Dylan Slater
Isondo Precious Metals COO Dr Sakib Khan

African govts’ mining policies perpetuating boom-and-bust cycle 

By: Nadine James     12th July 2019 After a protracted period of consolidation, cost reduction initiatives and suspended dividends, the global mining sector is today in far better shape than it was during the years that followed the 2008/9 financial crisis and the subsequent commodities crash, notes Herbert Smith Freehills South... 

African govts’ mining policies perpetuating boom-and-bust cycle

PGMs eyed to elevate battery tech to new heights 

By: Marleny Arnoldi     15th July 2019 JSE-listed Anglo American Platinum (Amplats) and TSX-listed Platinum Group Metals (PTM) have launched a joint venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium. Lion has subsequently entered into an agreement with... 

PGMs eyed to elevate battery tech to new heights
Photo by Creamer Media's Dylan Slater
Amplats market development head Benny Oeyen

Mineral resources budget prioritises exploration, beneficiation, licensing  

By: Nadine James     10th July 2019 Mineral Resources and Energy Minister Gwede Mantashe on Wednesday reiterated his belief that mining was a sunrise industry, while tabling the Department of Mineral Resources’ budget vote for 2019/20 in the National Assembly. The department has a R2-billion budget for the financial year. 

Mineral resources budget prioritises exploration, beneficiation, licensing
Minerals Resources and Energy Minister Gwede Mantashe

Pan African exceeds full-year production guidance 

By: Simone Liedtke     12th July 2019 Africa-focused metals producer Pan African Resources has exceeded its full-year production guidance of 170 000 oz, with output up 7.5% year-on-year to 172 442 oz. This has seen Pan African emerging as a “safe, low-cost and long-life gold producer”, CEO Cobus Loots said on Friday. 

Pan African exceeds full-year production guidance
Photo by Creamer Media
Pan African Resources CEO Cobus Loots

De Beers reports successful second translocation of elephants

By: Simone Liedtke     12th July 2019 The second translocation of elephants from diamond miner De Beers’ Venetia Limpopo Nature Reserve (VLNR), in South Africa, to Zinave National Parks, in Mozambique, has been completed. The first herds of elephants were corralled at the VLNR on June 25, before being transported by road for about 1... 

Jubilee completes Sable Zinc refinery acquisition

By: Nadine James     12th July 2019 Aim-listed metals processing company Jubilee Metals Group on Thursday confirmed the completion of its acquisition of the Sable Zinc Kabwe refinery, in Zambia. “I am delighted that we have successfully achieved all conditions precedent for the implementation of the Sable Zinc Kabwe acquisition,... 

Canadian, Australian miners cheer Trump’s uranium import decision

By: Mariaan Webb     15th July 2019 US President Donald Trump’s decision to back away from implementing new trade restrictions on uranium imports into the US has won praise from Canadian and Australian producers, which argue that the uranium they supply is not a threat to US national security. Trump has rejected the recommendation... 

Canadian, Australian miners cheer Trump’s uranium import decision
US President Donald Trump

MC secures funding for Makhado Phase 1 construction

By: Tasneem Bulbulia     15th July 2019 The Industrial Development Corporation of South Africa’s (IDC’s) credit committee has approved a R245-million loan facility for ASX-, Aim- and JSE-listed MC Mining for the construction of Phase 1 of its Makhado hard coking coal project, in South Africa’s Limpopo province. The term loan reaffirms... 

MC secures funding for Makhado Phase 1 construction
Photo by Creamer Media's Dylan Slater
MC CEO David Brown

Uranium market activity seen returning to 'more normal' levels

By: Mariaan Webb     15th July 2019 London-listed uranium fund Yellow Cake said on Monday that activity in the uranium market should pick up in the near term, following US President Donald Trump’s decision at the weekend to steer clear from imposing import tariffs on uranium. The Section 232 investigation, which started early last... 

Africa adds risk to Barrick portfolio, but Bristow is positive – Fitch  

By: Mariaan Webb     11th July 2019 The acquisition of mines in Africa through a merger with Randgold Resources early this year, has raised the overall risk of Toronto-headquartered Barrick Gold’s mining portfolio, but analysts at Fitch Solutions believe that South African geologist Mark Bristow, who has a track record of operating... 

Africa adds risk to Barrick portfolio, but Bristow is positive – Fitch
Barrick Gold CEO Mark Bristow

Deputy Minister hints at possible review of Mining Charter III 

By: Nadine James     10th July 2019 Mineral Resources and Energy Deputy Minister Bavelile Hlongwa on Wednesday said a discussion to review Mining Charter III “would be very relevant”, given the current iteration’s lack of an explicit provision for youth ownership. Speaking during the Department of Mineral Resources’ Budget Vote... 

Rio could fast-track key Australia copper find before US asset

By: Bloomberg     15th July 2019 Rio Tinto Group’s much-followed copper discovery in remote Western Australia could leapfrog a key US project to be fast-tracked into production by the world’s No. 2 miner, according to a senior executive. Work is progressing to assess the size and quality of the Winu exploration project in the... 

Fading US utility demand for coal to hit Powder River Basin hardest

By: Mariaan Webb     12th July 2019 While the outlook for the US coal industry over the next 12 to 18 months is stable, fading utility demand in the 2020-to-2030 decade will drive the ongoing contraction of the domestic coal industry, presenting a significant challenge for US coal miners. Last year, utilities consumed about 84% of... 

Fading US utility demand for coal to hit Powder River Basin hardest

Investment, central bank demand to remain robust – WGC 

By: Nadine James     11th July 2019 The World Gold Council (WGC) expects consumer demand to trend lower for the remainder of this year, but investment demand is likely to remain robust, while central banks continue their net purchasing trend. In its ‘Mid-Year Outlook’ report, released on Thursday, the WGC noted that financial... 

Investment, central bank demand to remain robust – WGC

Pakistan ordered to pay Antofagasta-Barrick venture $5.84bn in damages

By: Creamer Media Reporter      15th July 2019 The World Bank’s International Centre for Settlement of Investment Disputes has awarded a joint venture between London-listed Antofagasta and Toronto-listed Barrick Gold $5.84-billion in damages. The joint venture, Tethyan Copper Company (TCC), has filed for damages against the government of... 

Xtract appointed as contractor at Zambian copper processing project

By: Tasneem Bulbulia     15th July 2019 Xtract Resources has concluded a memorandum of agreement with KPZ International (KPZ) for Xtract to act as contractor for the Kalengwa processing project on the large-scale copper mining licence number 24401-HQ-LEL located in the central part of the Republic of Zambia. The historic Kalengwa... 

Brazil court convicts Vale for damages caused by deadly dam rupture

By: Reuters     10th July 2019 A Brazilian state judge on Tuesday convicted mining company Vale for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value... 

Rio unveils pink diamond tender

By: Esmarie Iannucci     12th July 2019 Diversified miner Rio Tinto has unveiled its latest tender from the Argyle diamond mine, in the Kimberley region of Western Australia, as the operation nears the end of its life cycle. The 64-diamond collection includes three Fancy Red diamonds and weighs a combined 56.28 ct.  

Eskom’s quickest fix is giving it cash now, swapping debt later

By: Bloomberg     15th July 2019 Ask Nedbank Group CEO Mike Brown how to save South Africa’s beleaguered State-owned power utility and his approach is simple: first give it cash and then consider a debt-to-equity swap later. Eskom Holdings is paying so much in interest on its debt – at the same time that its income is falling –... 

WA govt backs BHP's long-term iron-ore expansion plans

By: Esmarie Iannucci     12th July 2019 The Western Australian government has approved mining major BHP’s long-term plans for its Pilbara iron-ore operations, which includes a potential 11 more iron-ore projects over the next 50 to 100 years. BHP's 'Pilbara Expansion Strategic Proposal' details a cumulative picture of the miner's... 

WA govt backs BHP's long-term iron-ore expansion plans

Rio completes Rössing sale  

By: Esmarie Iannucci     16th July 2019 Diversified miner Rio Tinto has completed the sale of its interest in the Rössing uranium mine in Namibia to China National Uranium Corporation (CNUC). The two companies in November of last year struck an agreement under which Rio would divest of its 68.62% stake in the project in exchange for... 

Rio completes Rössing sale

Lucapa on track for profits in 2019

By: Esmarie Iannucci     15th July 2019 Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up. Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three... 

Platinum firms kick off wage talks

By: Reuters     10th July 2019 The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to provoke higher wage demands. The majority union in the platinum sector, the Association of Mineworkers and Construction... 

Caledonia on track to achieve full-year guidance

By: Tasneem Bulbulia     12th July 2019 Caledonia Mining’s Blanket mine, in Zimbabwe, produced 12 712 oz of gold in the second quarter ended June 30. While this was slightly below target, it was ahead of the 12 657 oz produced in the second quarter of 2018 and was also still at a level at which Caledonia was comfortable that it could... 

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